Missouri has established a new billion-dollar sector.
Total sales for cannabis have reportedly surpassed this significant marker in the Show Me State earlier this month, a mere three months following the initiation of the adult-use marijuana market and almost three years after the legalization of medical cannabis in Missouri.
Local news channel KOMU has stated that “Missouri exceeded $1 billion in lawful cannabis sales on May 2,” a remarkable achievement propelled by robust recreational marijuana sales.
The channel reported that since the state’s recreational cannabis market opened on February 3, “Missouri has sold $350.2 million, which includes $256.2 million of adult-use cannabis and $94 million in medical marijuana.”
Medical cannabis sales in Missouri commenced in October of 2020.
“In contrast, Illinois, with a population twice the size of Missouri, sold a total of $188.1 million in the initial three months of adult-use sales from January through March 2020,” the channel informed.
The early outcomes were encouraging following the launch of the state’s recreational cannabis sector in early February.
In the first month, Missouri dispensaries earned more than $100 million in marijuana sales, consisting of $72 million from recreational cannabis sales and $31 million from medical cannabis.
Andrew Mullins, executive director of the Missouri Cannabis Trade Association (MOCann), mentioned that the initial month of regulated adult-use cannabis sales in the state outperformed the start of recreational marijuana sales in neighboring Illinois in 2020.
“That’s over twice what Illinois achieved in a state with double the population,” Andrew Mullins, the executive director of the Missouri Cannabis Trade Association, stated then. “So it genuinely demonstrates the enthusiasm and interest in Missouri’s new adult-use sector.”
“Canna-tourism individuals that may opt to visit Missouri to access and use cannabis,” Mullins continued. “That seems to be impacting the volume of sales Missouri is witnessing.”
Mullins reiterated a similar sentiment in remarks to KOMU this week.
“Missouri’s latest billion-dollar sector is witnessing considerable job growth, offering excellent products and services to the residents of Missouri, and becoming an essential component of the local economy across the state,” Mullins declared, as cited by the news channel. “Missouri has evaded numerous initial issues that other states encountered while transitioning from a medical cannabis program focused on quality, affordability, accessibility, and choice. Missouri’s cannabis program could not have had a better start. A heartfelt thank you to all the patients, clients, and small business owners that aided Missouri in achieving this remarkable milestone.”
Last year, Missouri voters approved Amendment 3, legalizing recreational cannabis for adults aged 21 and over in the state.
The amendment passed with a vote of 53% to 47%.
KOMU states that the state “has now exceeded 14,800 direct jobs in the [cannabis] sector, and preliminary indications suggest these jobs pay higher than cannabis jobs in numerous other states.”
The new legislation has also resulted in the expungement of thousands of prior marijuana-related convictions in the state.
In March, the Riverfront Times reported that the “bulk of expunged convictions thus far [were] misdemeanors.” At that point, the paper stated, courts in the state had “granted 6,121 expungements for misdemeanors associated with nonviolent cannabis offenses that did not involve selling to minors or driving under the influence of cannabis,” while over 1,200 “felony convictions have also been expunged.”
Local news channel FOX4 reports that, as of this week, “more than 31,000 past marijuana convictions have been expunged.”
“Part of the 6% sales tax purchasers pay on adult-use marijuana sales funds automatic expungements. The state anticipates the number of expunged cases will rise rapidly in the upcoming months,” the channel reports.
This development in Missouri’s cannabis industry showcases the potential for economic growth, job creation, and social impact, as thousands of prior marijuana-related convictions are expunged. The success of Missouri’s recreational and medical cannabis markets, along with the benefits it brings to the local economy, serves as an example for other states considering the legalization of marijuana. With the continued growth of this billion-dollar industry, Missouri can expect further advancements in its economy and job market, as well as improvements in the accessibility and quality of cannabis products for its residents.
